P5-B campaign funding may have led to split

MANILA, Philippines — Disagreements between “party elders” and the camp of Sen. Francis “Chiz” Escudero over funding for his presidential bid led to his decision to bolt the Nationalist People’s Coalition (NPC), according to someone familiar with recent negotiations within the party.

The source, who was present in several party meetings, said the rift was brought about by “differences of opinion” over how much Escudero needed and how much he could realistically raise to fund his campaign.

He said Escudero’s advisers initially quoted a figure of “P5 billion” that the group was expecting to receive from the party, either directly or in terms of support by raising a portion of the amount from the business community.

He pointed out, however, that even the top presidential candidate could raise only about “P1 billion” from prominent supporters in the best case.

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